Medical Reimbursement Professionals Exchange

[mom4td]

I am thinking of adding consulting to my services listed in my brochures, etc. and marketing to clinics who wont consider outsourcing at this time.

I am reading a book on selling for service companies and it recommends not charging an hourly rate because people often balk at hourly rates that are higher than what they are used to paying for regular employees. It recommends doing "packages" for a set price.

Just wondering how others who do consulting charge?

A few months ago I charged a measly $20 an hour for consulting to someone who made it clear they would not outsource to me for their billing and they almost choked on the price! The whole time the lady was worried that I was working and being productive while I was on her clock. If we were waiting on hold for a software company, etc. she was about to have a fit over that $20 an hour. I made the most of every minute I was there, and she said she was happy with my work, but it made me a little uncomfortable.

I am open to suggestions.
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Cheri

[Leah]

I have done only per-hour, simply because it's impossible to tell how long the task will take.

I, too, charged $20/hr for my first consulting job, and boy, did I find out real quick that was WAY too low! I charge a little more than that now.

You have to remember that in this business people tend to be, um, cheaper than in other businesses. I guess that's because they can't control their reimbursement as well?
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Leah Sees, CMRS
Taylor Consulting and Billing - Taking Care of Business!
Maximum Reimbursement in a Minimum of Time!

[Erica Schwalm]

$20.00/hr is way too low for consulting services. I really don't know what the "going rate" is... It probably depends on where you are, but I did one consulting gig and took the low end, which was $40.00/per hour, simply because the place wouldn't go any higher. I do know a lady who was getting a hundred bucks per hour. It may also depend on what exactly you are doing. I think you guys are selling yourself short if you take that. I would quote a higher rate and stick to my guns. If they want to shop around, I guarantee they won't find someone as good as you for any less. Good luck!!!

Erica
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Erica Schwalm, CPC, GSS, CMRS
www.ericacodes.com

[mom4td]

I guess it depends on what you are doing...Steve V. gets a hefty hourly wage, but he reviews and negotiates managed care contracts.

For me, it would be looking at how they verify benefits, how they code primarily their medicare claims, look at the aging stuff and see what they could be doing better or how they could appeal, etc.
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Cheri

[Erica Schwalm]

Cheri, I still think you could get and deserve more than that. As I said, I got $40.00/hr and I basically did just what you are doing, though I did help the doc with his E&M coding as well. Basically, I knew the doc. He left a practice I was working for and joined a different group. I left the same group shortly after so he asked if I could just come and "check out" what the new billing company was doing. I went in and looked at all the codes, what they were charging, made sure they were capturing all the services & supplies, how they were handling any denials, ways they could avoid those denials, etc. I did identify that they set up a fee wrong on one his most commonly performed procedures - they were undercharging by more than $300.00. You know how much money I saved him??? A LOT! $40 bucks an hour is a drop in a bucket compared to that. Just think, if you can identify one or two things that will save them money or make them money in the long run, it's money well spent for them. Maybe you want to keep charging $20.00 for now until you get a good reputation... maybe it was easier for me to get a little more because the doc already knew me and knew I was worth it? Maybe you can do a few more and then get them to write testimonials or reference letters for you and then you would be more confident in charging more. I seriously think you deserve it! I mean there's plenty of coders who make that much if not more (and employees get benefits, which you would not, which adds up to a lot more per hour if you think about it).

Good luck!!!

Erica
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Erica Schwalm, CPC, GSS, CMRS
www.ericacodes.com

[Leah]

I agree that $40-50 would be a good amount to ask for that kind of work.
_________________
Leah Sees, CMRS
Taylor Consulting and Billing - Taking Care of Business!
Maximum Reimbursement in a Minimum of Time!

[mom4td]

Thanks girls! I would never do it for $20 an hour again anyway, but I was thinking of starting at $30 next time. Now I think I will go for more. Afterall, I dont want the client to think I am not valuable. Heck, I paid over $100 recently to do a 1hr teleconference presented by industry experts.

They did not tell me anything I did not already know and even made one inaccurate claim that I called them on. They quickly modified the statement.

I just have to keep reminding myself of those times and the messes I have seen with other billing companies and even inhouse staff.....I can do way better than that!

Erica..you would like the statement that was made at the teleconference...."It is illegal for anyone other than the clinician to code"

I asked them if it was illegal, then why were courses to become a certified coder presented at community colleges nationwide? I also pointed out that the clinicians arent trained to code, they are trained to diagnose and treat, and most do not have a clue as to how to code. In addition, smaller private practices usually do not have a certified coder on staff, they have the OM do it! (I am not certified, but I can do better than the OM in most cases)

The answer to my objection was, " well, ultimately the provider is the one responsible for any inaccurate coding and that is why we present conferences like this one to help educate them."

Again, thanks for the vote of confidence!
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Cheri

[Leah]